West African gold explorer Golden Rim Resources Ltd (ASX:GMR, OTC:GMRMF) has received a three-year licence extension from the Ministere de l’Energie, Des Mines et Des Carrieres in Burkina Faso for the Kouri Gold Project.
This extension grants the company the flexibility to assess strategic divestment options or to delve deeper into further exploration of the asset.
The Kouri Gold Project boasts a substantial resource base, with estimates of 50 million tonnes at 1.3 g/t gold, translating to about 2 million ounces and this remains open along strike.
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Golden Rim managing director Tim Strong said: “We are very pleased to have the support of the Minister of Mines in Burkina Faso in relation to our gold exploration licences in Eastern Burkina.
“This three-year extension of the Kouri licence allows the company to continue to explore divestment opportunities of the asset which currently holds a significant resource base of 50 million tonnes at 1.3 g/t for a total of 2 million ounces of gold or conduct further exploration activities.”
Project outline, note renewed Kouri licence (blue label)
About the project
The Kouri Gold Project covers an area of 242 square kilometres of the highly prospective Samira Hill Shear Zone in Burkina Faso.
Situated about 230 kilometres northeast of the capital city, Ouagadougou, Kouri is accessible via sealed and unsealed roads from Ouagadougou.
The Kouri licence that has been successfully renewed covers an area of 42.5 square kilometres representing about 20% of the entire Kouri project area and contains 97% of the current mineral resource estimate.
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